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HIRE-PURCHASE CHAPTER 342 HIRE-PURCHASE laws. · PDF file HIRE-PURCHASE CHAPTER 342...

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  • HIRE-PURCHASE [CH.342 – 1

    LRO 1/2008 STATUTE LAW OF THE BAHAMAS

    HIRE-PURCHASE CHAPTER 342

    HIRE-PURCHASE LIST OF AUTHORISED PAGES 1 - 2 LRO 1/2008 3 - 26 Original 27 - 28 LRO 1/2008 29- 36 Original

    ARRANGEMENT OF SECTIONS

    PART I PRELIMINARY

    SECTION 1. Short title. 2. Interpretation. 3. Restricted application of Parts II, IV and V.

    PART II GENERAL

    4. Enforcement conditional on compliance with specified requirements. 5. Requirements as to cash price. 6. Requirements as to content and form of agreements. 7. Requirements as to copies where hirer or buyer signs at appropriate trade premises. 8. Requirements as to copies where hirer or buyer signs elsewhere than at appropriate trade

    premises. 9. Power of court to dispense with requirements. 10. Notice of cancellation. 11. Service of notice of cancellation. 12. Re-delivery and interim care of goods comprised in notice of cancellation. 13. Further consequences of notice of cancellation. 14. Effect of notice of cancellation where goods given in part-exchange. 15. Agency in regard to certain representations. 16. Implied conditions and warranties. 17. Provisions as to exclusion of implied conditions and warranties. 18. Further implied conditions in special cases. 19. Special provisions as to conditional sale agreements. 20. Owner or seller to supply certain information on request. 21. Hirer or buyer to supply information. 22. Notice of default. 23. Supplementary provisions as to service of notice of default. 24. Right to terminate agreement. 25. Liability of hirer or buyer giving notice of termination. 26. Avoidance of certain contractual provisions. 27. Power of court to authorise entry on enclosed premises to recover goods other than

    protected goods. 28. Regulations as to legibility of documents.

  • CH.342 – 2] HIRE-PURCHASE

    STATUTE LAW OF THE BAHAMAS LRO 1/2008

    PART III MOTOR VEHICLES

    29. Protection of purchaser of motor vehicles. 30. Presumptions relating to dealings in motor vehicles. 31. Interpretation of Part III.

    PART IV RECOVERY OF POSSESSION AND OTHER REMEDIES

    32. Meaning of “protected goods”. 33. Restriction on right to recover possession of protected goods. 34. Action by owner to recover possession of protected goods. 35. When a postponed order may be made. 36. Restriction on order transferring owner's title. 37. Effect of postponed order. 38. Supplementary powers of court as to postponed order. 39. Powers of court on non-compliance with order for specific delivery. 40. Claim under minimum payment provision. 41. Money claim after order for specific delivery of goods. 42. Application of section 34 to 41 to conditional sale agreements. 43. Evidence of adverse detention of goods. 44. Rebate in purchase price on early payment of instalments.

    PART V MISCELLANEOUS AND SUPPLEMENTARY

    45. Appropriation of payments. 46. Refusal to surrender goods not to be conversion in certain cases. 47. Jurisdiction restricted to certain magistrates. 48. Regulations as to advertisements re hire-purchase, credit sale or conditional sale. FIRST SCHEDULE — Notice to be Included in Hire-purchase Agreement. SECOND SCHEDULE — Notice to be Included in Conditional Sale Agreement.

  • HIRE-PURCHASE [CH.342 – 3

    ––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– [Original Service 2001] STATUTE LAW OF THE BAHAMAS

    CHAPTER 342

    HIRE-PURCHASE An Act to make provision for the regulation of hire-

    purchase, credit sale and conditional sale agreements and for purposes connected with the matters aforesaid.

    [Assent 24th October, 1974] [Commencement 19th December, 1974]

    PART I PRELIMINARY

    1. This Act may be cited as the Hire-Purchase Act. 2. (1) In this Act, unless the context otherwise

    requires — “appropriate trade premises”, in relation to a docu-

    ment, means premises at which either the owner or the seller named in the document normally carries on business, or at which goods of the description to which the document relates or goods of a similar description are normally offered or exposed for sale in the course of a business;

    “buyer”, in relation to a conditional sale agreement, means the person who agrees to purchase goods under the agreement and includes a person to whom the rights or liabilities of that person under the agreement have passed by assignment or operation of law;

    “conditional sale agreement” means an agreement for the sale of goods under which the purchase price or part of it is payable by instalments and the property in the goods is to remain in the seller, notwithstanding that the buyer is to be in possession of the goods, until such conditions as to the payment of instalments or otherwise as may be specified in the agreement are fulfilled;

    21 of 1974

    Short title.

    Interpretation.

  • CH.342 – 4] HIRE-PURCHASE

    STATUTE LAW OF THE BAHAMAS [Original Service 2001]

    “contract of guarantee”, in relation to a hire-purchase agreement, credit sale agreement or conditional sale agreement means a contract made at the request, express or implied, of the hirer or buyer, either to guarantee the performance of the hirer's or buyer's obligations under the agreement, or to indemnify the owner or seller against any loss which he may incur in respect of that agreement and “guarantor” shall be construed accordingly;

    “court” means, subject to section 47, any court having jurisdiction to hear and determine the matter in issue in accordance with any law in force in The Bahamas;

    “credit sale agreement” means an agreement for the sale of goods under which the purchase price is payable by five or more instalments, not being a conditional sale agreement;

    “hire-purchase agreement” means an agreement for the bailment of goods under which the bailee may buy the goods or under which the property in the goods will or may pass to the bailee;

    “hire-purchase price”, subject to subsection (3), means the total sum payable by the hirer under a hire-purchase agreement in order to complete the purchase of the goods to which the agreement relates, exclusive of any sum payable as a penalty or as compensation or damages for a breach of the agreement;

    “hirer” means the person who takes or has taken goods from an owner under a hire-purchase agreement and includes a person to whom the hirer's rights or liabilities under the agreement have passed by assignment or by operation of law;

    “Minister” means the Minister responsible for Hire- purchase;

    “notice of cancellation” has the meaning assigned to it by section 10;

    “owner” means the person who lets or has let goods to a hirer under a hire-purchase agreement and includes a person to whom the owner's property in the goods or any of the owner's rights or liabilities under the agreement has passed by assignment or by operation of law;

  • HIRE-PURCHASE [CH.342 – 5

    ––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– [Original Service 2001] STATUTE LAW OF THE BAHAMAS

    “Part” means a Part of this Act; “seller”, in relation to a conditional sale agreement,

    means the person who agrees to sell goods under the agreement and includes any person, other than the buyer, to whom that person's property in the goods or any of that person's rights or liabilities under the agreement has passed by assignment or by operation of law;

    “total purchase price”, subject to subsection (3), means the total sum payable by the buyer under a credit sale agreement or a conditional sale agreement, exclusive of any sum payable as a penalty or as compensation or damages for a breach of the agreement.

    (2) Where by virtue of two or more agreements, none of which by itself constitutes a hire-purchase agreement, there is a bailment of goods and either the bailee may buy the goods or the property therein will or may pass to the bailee, the agreements shall be treated for the purposes of this Act as a single agreement made at the time when the last of such agreements was made.

    (3) For the purposes of this Act, any sum payable by the hirer under a hire-purchase agreement, or by the buyer under a conditional sale agreement, by way of a deposit or other initial payment, or credited or to be credited to him under the agreement on account of any such deposit or payment, whether that sum is to be or has been paid to the owner or seller or to any other person or is to be or has been discharged by a payment of money or by the transfer or delivery of goods or by any other means, shall form part of the hire-purchase price or total purchase price, as the case may be.

    (4) In this Act, “antecedent negotiations”, in relation to an actual or prospective hire-purchase agreement, credit sale agreement or conditional sale agreement, means any negotiations or arrangements with the hirer or buyer whereby he was induced to make the agreement or which otherwise promoted the transaction to which the agreement relates; and any reference in this Act to the person by whom the antecedent negotiations

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